The weekly price for steel sections (medium) for local, Northern Europe delivery was at €770-800 ($827-859) per tonne on Wednesday, unchanged from the previous week.
The respective weekly price for steel sections (medium) for local, Southern Europe delivery was at €770-800 per tonne on Wednesday, unchanged from the previous week.
Market sources said there is little need for restocking due to weak demand, while a trader in Northern Europe expects weak demand for sections to continue through 2023 due to low consumption in the construction sector.
Meanwhile, raw material costs for hot rolled coil in Europe have decreased in the past seven days amid low demand and expectations of large imports from customs in the fourth quarter.
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